The long-awaited Facebook-led digital currency Libra is preparing to launch as early as January but in an even more limited format
Libra’s exact launch date will depend on when the project receives
approval to operate as a payments service
Facebook has decided to return to the idea of launching its own cryptocurrency Libra . According to the Financial Times, which managed to contact several project participants at once, Libra may be released in January 2021, but with a slightly different concept.
In mid-2019, Facebook announced its intentions to launch its own cryptocurrency Libra, the full release of which was supposed to take place this year. But criticism from regulators and the exit of several reputable companies, including PayPal, as well as the refusal of Visa, Mastercard and eBay from cooperation, led to the fact that Facebook never launched Libra.
In April 2020, the management of the social network revised the project and offered users the currencies issued by central banks, and also showed that the cryptocurrency does not belong to Facebook. The Libra Association now includes the Uber and Spotify brands. From now on, Libra will be positioned as a cryptocurrency pegged to the euro, dollar and other currencies, according to insiders. The release of a universal multicurrency token is also planned.
Now the launch of Libra is directly dependent on the Swiss supervision service Finma, which must make a decision in the near future. Work with Libra will be carried out in the Novi crypto wallet, which, according to sources, is already ready and is now undergoing the procedure for obtaining a license in the United States.